Gold Holds Near 8-Month Lows

2026-06-24 23:53 By Jam Kaimo Samonte 1 min. read

Gold steadied around $4,000 an ounce on Thursday, but stayed close to its lowest levels in almost eight months as a stronger dollar and growing expectations of Federal Reserve rate hikes continued to weigh on prices.

The US dollar rose to its highest level in more than a year against a basket of major currencies, making dollar-denominated commodities such as gold costlier for holders of other currencies.

Last week, the Fed kept interest rates unchanged but signaled increasing support for tighter monetary policy, with Chair Kevin Warsh indicating his commitment to bringing inflation under control.

Markets are now pricing in a possible rate hike in September, with additional increases potentially following before year-end.

Those expectations have overshadowed the supportive effect of progress in US-Iran peace negotiations, which has driven oil prices back to pre-conflict levels and significantly reduced inflationary pressures.



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Gold Holds Near 8-Month Lows
Gold steadied around $4,000 an ounce on Thursday, but stayed close to its lowest levels in almost eight months as a stronger dollar and growing expectations of Federal Reserve rate hikes continued to weigh on prices. The US dollar rose to its highest level in more than a year against a basket of major currencies, making dollar-denominated commodities such as gold costlier for holders of other currencies. Last week, the Fed kept interest rates unchanged but signaled increasing support for tighter monetary policy, with Chair Kevin Warsh indicating his commitment to bringing inflation under control. Markets are now pricing in a possible rate hike in September, with additional increases potentially following before year-end. Those expectations have overshadowed the supportive effect of progress in US-Iran peace negotiations, which has driven oil prices back to pre-conflict levels and significantly reduced inflationary pressures.
2026-06-24
Gold traded below 4000 USD/t.oz
Gold decreased below 4000, according to trading on a contract for difference (CFD).
2026-06-24
Gold Below $4000
Gold prices tumbled more than 3% to below $4,000 per ounce on Wednesday, hitting their lowest level since November 2025. The precious metal came under pressure from a stronger US dollar and growing expectations that the Fed will maintain a hawkish stance, with traders increasingly betting on an interest-rate increase later this year. Markets currently assign a roughly 68% probability of a Fed rate hike in September, up from 29% a week ago. Bullion is now down about 5% year-to-date and nearly 20% below its January record high, reached before the outbreak of the conflict involving Iran. Despite heightened geopolitical uncertainty, gold has struggled to retain its traditional safe-haven appeal during the war. A surge in oil prices has fueled inflation concerns, prompting major central banks to adopt a more restrictive monetary policy stance and increasing the opportunity cost of holding non-yielding assets such as gold.
2026-06-24